Venmo Relaunches To Make Mobile Payments More Social

Venmo, the mobile phone payment
app, just had a relaunch party at the Hotel Chantelle in New York
City to show off its new social features.

The original app let people pay friends on mobile devices. (You
know, like PayPal,
but ... exactly like PayPal.)

By adding a Twitter-like stream of updates on the home screen,
the app is hoping users will find it more fun to pay back someone
for drinks, sporting events, dinner, and concerts.

The idea is to connect the payments to the memories created by
allowing friends to see what was done, who paid, and how others
reacted. All people need to do is hit the big Pay
button—but now your friends can see who's a cheapskate and who's
a high roller.

Venmo had a similar feature in its previous design, but it
was hard to find. Even so, 42 percent of users used the feed—a
clear sign the company ought to promote it.

Tech early adopters are already on board. Facebook,
Google,
Digg, and
Apple
employees use it. It's especially popular at Foursquare,
where about 95 percent of workers use the app, according to Venmo
PR manager Cora Weiss.

But the startup is hoping the added social aspect will help the
not-so-tech-savvy masses get on board.